Kenvue Inc. (KVUE)
Consumer Staples · Personal Care Products · US stock · S&P 500 component
$19.88
▲ +0.84 (4.41%)
Fair valueFair
$23 +17.3% to fair value
$12fair band $20–$28$35
Day's range
$19.18 – $19.89
52-week range
$14.02 – $20.13
Red flags⚠ Dividend may be at risk⚠ Dividend may be at risk⚠ Dividend may be at risk⚠ Dividend may be at risk⚠ Dividend may be at risk
About Kenvue Inc.
Kenvue is a consumer health company that was separated from Johnson & Johnson. It makes everyday products for self care, skin health, baby care and oral care under familiar names such as Tylenol, Neutrogena, Aveeno, Listerine and Band-Aid. These goods reach shoppers through supermarkets, pharmacies, mass retailers and online stores around the world, and the company is organised into self care, skin health and beauty, and essential health divisions.
Kenvue earns revenue from consumer products that it supplies to retail partners. In the last twelve months sales came to $15.4 billion, and they grew by only 0.4% a year across the last three years. The operating margin is 17.1%, and the business earns a profit of 18% on the capital invested in it. It carries net debt of 0.1 times EBITDA. The company pays a dividend with a yield of 5.3%. On the site's X-Ray Score it receives 49 out of 100.
Price chart
52-wk range $14.02 – $20.13Volume 15,499,333Daily, split-adjusted
Vitals
Market cap$38.2B
52-week range$14.02 – $20.13
Volume (last day)15,499,333
P/E (TTM)23.1
EBIT / EV yield6.8%
Free-cash-flow yield5.0%
Dividend yield5.3%
Revenue (TTM)$15.4B
Net income (TTM)$1.7B
Operating margin17.1%
Return on capital18.1%
Debt incl. leases$1.4B
Cash & securities$1.1B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$23middle half of models $22 – $24
Fair
+17.3% to fair value
Average of the 14 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Medium, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Price $20
Undervalued < $20Fair $20 – $28Overvalued > $28
P/E multiple
$20
P/B multiple
$24
P/S multiple
$22
EV/EBITDA multiple
$25
EV/EBIT multiple
$25
EV/revenue multiple
$22
10-year DCF, EBITDA exit
$23
5-year DCF, EBITDA exit
$22
10-year DCF, revenue exit
$22
5-year DCF, revenue exit
$22
10-year DCF, growth exit
$21
5-year DCF, growth exit
$20
Dividend discount, stable
$35
Dividend discount, multi-stage · not used
$49
Earnings power value
$25
Growth the price implies
7.1%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Weak business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Consumer Staples peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Strong
72/100
Cheap against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield6.8%
Free-cash-flow yield5.0%
Fair value vs price1.2×
Growth
Weak
25/100
Growing slower than most of its sector.
See the numbers →
Revenue growth (3y)0.4%
EPS growth (3y)-14.1%
Growth consistency40%
Profitability
Fair
52/100
Returns on capital are typical for its sector.
See the numbers →
Return on invested capital18.1%
Operating margin17.1%
Gross profitability33.5%
Financial health
Weak
46/100
Balance sheet is more stretched than most peers.
See the numbers →
Piotroski F-Score6 / 9
Net debt / EBITDA0.1×
Interest cover6.2×
Dividends
Weak
32/100
Dividend is modest or less certain than peers.
See the numbers →
Dividend yield5.3%
Dividends vs free cash flow105%
Quarterly results: last 6 quarters
-3.9%
Mar '25
-4.0%
Jun '25
-3.5%
Sep '25
+3.2%
Dec '25
+4.5%
Mar '26
+3.0%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $4.0B, diluted EPS $0.24.
Compare with peers
PG PROCTER & GAMBLE Co54 EL Estee Lauder Companies...35Other Personal Care Products companies by X-Ray Score.
SWOT analysis: Kenvue Inc.
Strengthsinside the company
- Return on invested capital is 18.1%, against a median of 15.1% for sector peers.
- Operating margin of 17.1% is well above the 10.2% median of sector peers, a sign of pricing power or lower costs.
- Free cash flow equals 5.0% of the market value, which funds dividends, buybacks or debt paydown.
- Net debt is only 0.1x EBITDA.
Weaknessesinside the company
- Earnings per share have declined 14.1% a year over three years.
- Altman Z-score of 1.3 is in the zone linked with financial distress in past studies.
- Dividends (5.3% yield) are larger than free cash flow (payout 105% of it).
Opportunitiesvaluation and setting
- Price momentum is strong on the weekly and monthly signals (trends can reverse).
Threatsvaluation and setting
- Our checks raised: Dividend may be at risk; Dividend may be at risk.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare KVUE with peers and sector
Medians of 28 Consumer Staples peers and of 28 Consumer Staples stocks in our universe.
Largest peers (X-Ray Score): WMT 51, COST 56, KO 43, PG 54, PM 50, PEP 60.
| Metric | KVUE | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 49 | 51 | 51 |
| Valuation | 72 | 53 | 53 |
| Growth | 25 | 49 | 49 |
| Profitability | 52 | 51 | 51 |
| Financial health | 46 | 54 | 54 |
| Dividends | 32 | 51 | 51 |
Sector leaders: highest X-Ray Score in Consumer Staples
KVUE ranks #18 of 29 in Consumer Staples by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for KVUE
Each factor is rated by where KVUE stands among the 29 Consumer Staples stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 6 Good · 10 Average · 7 Bad of 23
Growth: 0 · 1 · 2
Profitability: 3 · 2 · 0
Financial strength: 1 · 2 · 1
Valuation: 1 · 4 · 0
Cash flow: 1 · 1 · 2
Efficiency: 0 · 0 · 2
| Factor | KVUE | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | +0.4% | Average beats 38% | +2.3% | – | – |
| Revenue growth, last year | −2.1% | Bad beats 16% | +2.2% | −0.3% | ≈ In line |
| EPS growth, 3 years a year | −14.1% | Bad beats 22% | +2.0% | – | – |
| Profitability | |||||
| Gross margin | 58.2% | Good beats 80% | 38.7% | 56.0% | ≈ In line |
| Operating margin | 17.1% | Good beats 72% | 11.0% | 16.3% | ≈ In line |
| Net margin | 10.8% | Average beats 63% | 6.9% | 10.8% | ≈ In line |
| Return on invested capital | 18.1% | Good beats 69% | 15.2% | – | – |
| Return on equity | 15.7% | Average beats 37% | 18.6% | 10.7% | ▲ Better |
| Financial strength | |||||
| Net debt / EBITDA | 0.1x | Good beats 94% | 2.0x | 0.2x | ≈ In line |
| Interest cover | 6.2x | Bad beats 29% | 11.8x | 5.6x | ≈ In line |
| Current ratio | 1.01 | Average beats 41% | 1.04 | 1.04 | ≈ In line |
| Piotroski F-score | 6 / 9 | Average beats 52% | 6 / 9 | – | – |
| Valuation | |||||
| P/E ratio | 23.1x | Average beats 54% | 25.0x | 23.9x | ≈ In line |
| Price / book | 3.6x | Average beats 56% | 4.5x | 3.6x | ≈ In line |
| Price / sales | 2.5x | Average beats 34% | 1.8x | 2.6x | ≈ In line |
| EV / EBITDA | 12.1x | Good beats 83% | 15.2x | 14.9x | ▲ Better |
| Free cash flow yield | 5.0% | Average beats 60% | 4.8% | 5.2% | ≈ In line |
| Cash flow | |||||
| Free cash flow margin | 12.4% | Good beats 67% | 9.3% | 11.4% | ≈ In line |
| Cash from operations / net income | 1.40 | Average beats 35% | 1.54 | 1.49 | ≈ In line |
| Free cash flow growth, 3 years a year | −7.1% | Bad beats 18% | +11.0% | – | – |
| Accruals (lower is better) | −2.5% | Bad beats 29% | −4.2% | – | – |
| Efficiency | |||||
| Inventory turnover | 3.7x | Bad beats 19% | 5.3x | 3.7x | ≈ In line |
| Days sales outstanding | 59 days | Bad beats 12% | 35 days | 51 days | ▼ Worse |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 5 Good · ● 5 Average · ● 6 BadCash quality
Earnings backed by cashBad
Free-cash-flow yieldAverage
Risk models
Altman Z''Bad
Piotroski F-ScoreAverage
Growth
EPS growth (3y)Bad
Free-cash-flow growth (3y)Bad
Revenue growth (3y)Average
Growth consistencyBad
Balance sheet
Current ratioAverage
Net debt / EBITDAGood
Interest coverBad
Valuation
Fair value vs priceGood
EBIT / EV yieldGood
Profitability
Return on invested capitalGood
Operating marginGood
Gross profitabilityAverage
Each check is graded against the company's sector, not a fixed number. Checklist score 51/100.
Financials
| FY22 | FY23 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $15.1B | $15.0B | $15.4B | $15.5B | $15.1B |
| Operating income | $2.9B | $2.7B | $2.5B | $1.8B | $2.4B |
| Net income | $2.1B | $2.1B | $1.7B | $1.0B | $1.5B |
| Operating cash flow | $334M | $2.5B | $3.2B | $1.8B | $2.2B |
| Operating margin | 19.4% | 17.9% | 16.3% | 11.9% | 16.0% |
| Free cash flow | $39M | $2.2B | $2.7B | $1.3B | $1.7B |
| Diluted EPS | $1.21 | $1.20 | $0.90 | $0.54 | $0.76 |
Fiscal years, from SEC filings.
Technical summary
Daily
Bullish
12 bullish · 0 neutral · 4 bearish
Weekly
Strongly bullish
9 bullish · 1 neutral · 0 bearish
Monthly
Strongly bullish
5 bullish · 1 neutral · 1 bearish
Moving averages (daily)
| SMA 10 | 18.60 | Bullish |
| EMA 10 | 18.78 | Bullish |
| SMA 20 | 18.09 | Bullish |
| EMA 20 | 18.39 | Bullish |
| SMA 50 | 18.24 | Bullish |
| EMA 50 | 18.23 | Bullish |
| SMA 100 | 18.31 | Bullish |
| EMA 100 | 18.11 | Bullish |
| SMA 200 | 17.67 | Bullish |
| EMA 200 | 17.93 | Bullish |
Oscillators (daily)
| RSI (14) | 74.73 | Bearish |
| MACD (12, 26) | 0.35 | Bullish |
| Momentum (12) | 13.02 | Bullish |
| Stochastic %K (14) | 99.63 | Bearish |
| Williams %R (14) | -0.37 | Bearish |
| CCI (20) | 180.8 | Bearish |
Pivot points (classic, last session)
S3 18.70 | S2 18.94 | S1 19.41 | Pivot 19.65 | R1 20.12 | R2 20.36 | R3 20.83 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
1.04 USD
Yield on today's price
5.25%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 0.2100 | |
| 0.2100 | |
| 0.2080 | |
| 0.2080 | |
| 0.2080 | |
| 0.2080 | |
| 0.2050 | |
| 0.2050 | |
| 0.2050 | |
| 0.2050 | |
| 0.2000 | |
| 0.2000 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
ETFs that hold KVUE
| ETF | Share of the fund |
|---|---|
| RSPS Invesco S&P 500 Equal Weight Consumer... | 3.22% |
| MOAT VanEck Morningstar Wide Moat | 2.59% |
| XLP Consumer Staples Select Sector SPDR | 2.38% |
| SDY SPDR S&P Dividend | 1.75% |
| IYK iShares US Consumer Staples | 1.66% |
| KNG FT Cboe Vest S&P 500 Dividend Aristocr... | 1.47% |
| NOBL ProShares S&P 500 Dividend Aristocrats | 1.46% |
| FSTA Fidelity MSCI Consumer Staples Index | 1.35% |
The eight funds with the largest weight in KVUE among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
KVUE SEC filings
8-KSEC EDGAR
Entered a material agreement
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Shareholder vote results
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Director or officer change
DEF 14ASEC EDGAR
Proxy statement
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.